They remain constructive on the Australian Dollar (AUD) over the next one to two quarters, citing attractive carry and potential China stimulus, while expecting more measured gains as growth and inflation moderate. Carry and China support AUD"The RBA unanimously voted (9-0) to keep the cash rate unchanged at 4.35%, while retaining a modest tightening bias. AUD's intraday round-trip reflected mixed signals between the policy statement and Governor Bullock's subsequent press conference." "We remain constructive on AUD over the next one to two quarters, supported by its attractive carry profile and the potential for further Chinese policy stimulus. While the RBA is likely at the peak of its tightening cycle, sticky inflation means the risk of another rate hike cannot be ruled out."